French group Colas, with turnover worth over 11bn euros, part of the Buoygues giant, has acquired the Railway Signalling and Automation Company ISAF SA in Bucharest, through its Colas Rail division, according to market sources quoted by Mediafax news agency. Colas Rail started takeover talks with ISAF as early as 2006, when Colas Rail was called Amec Spie Rail. ISAF posted turnover worth 26.28m RON (7.4m euros) in 2006, and net profit worth 3.1m RON (0.8m euros), according to data from the Ministry of Finance. Colas Rail and ISAF are involved in several railway track rehabilitation projects, one of the most important of which is the modernisation of the Campina-Predeal segment. The takeover could allow the French to expand more rapidly in a sector that will attract investments worth over 10bn euros by 2018.
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